Hi, I already searched at Google, but I can’t find any single resource teaching how to use this tool properly. In the tradimo website, it says that when the oscillator approaches the upper extremes of the indicator, it shows that the asset could be overbought. When I insert this indicator into my MT4, I didn’t see the upper extremes line. How can I plot this line?
I’d recommend you use the stochastics
I don’t use indicators, but could be that MT4 has an issues with it the same way it does not display MACD properly and therefore rendering the indicator useless. Try to find a custom indicator and see if it solves the problem.
Hello Azlan
MT4 does not have this feature yet other platforms do. What you can do in mt4 is just use MACD or Stochastocs or if you want a MA for the RSI apply it on the Median price/ Weighted price or Typical close, which will create a mini MA for RSI (using Highs/Lows/Close as it main parameters) adjusting your time frame in line with your needed parameters.
Another option is just draw trend lines on RSI (adjusting your time frame in line with your needed parameters.)
There is no upper extreme line, since there is no such thing as extreme. This is not a stoch that moves between 0-100 values, the osma, just like the macd can arrive to any value. And this is a pure momentum indicator. There is no overbought or oversold. There is up momentum or down momentum. If you have something as an extreme value by your definition, you just enter to the indi setting, open the level tab, and add there the sought after level. Good luck.
-P
Hey Azlan, I think you would love this video on moving average. You can also use the picture illustration Moving and SAR strategy - Profiforex Forex Broker
Please let me know if it answers your question. I can provide you other materials
I really agree with ou that online video help in understanding how to use most of the indicators. It is a good place to learn about indicators .